Munjal Auto Industries Ltd
Incorporated in 1985, Munjal Auto Industries Ltd manufactures and sells auto components and designs, develops, tests, and produces various composite molds and products for different industries.[1]
- Market Cap ₹ 912 Cr.
 - Current Price ₹ 91.2
 - High / Low ₹ 139 / 60.0
 - Stock P/E 26.4
 - Book Value ₹ 41.6
 - Dividend Yield 1.10 %
 - ROCE 11.8 %
 - ROE 10.1 %
 - Face Value ₹ 2.00
 
Pros
- Company has been maintaining a healthy dividend payout of 38.4%
 
Cons
- The company has delivered a poor sales growth of 10.8% over past five years.
 - Company has a low return on equity of 9.50% over last 3 years.
 - Earnings include an other income of Rs.41.8 Cr.
 
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 1,214 | 1,236 | 2,123 | 1,916 | 1,984 | 1,882 | 2,066 | 2,047 | |
| 1,143 | 1,190 | 2,040 | 1,833 | 1,894 | 1,761 | 1,949 | 1,932 | |
| Operating Profit | 71 | 45 | 83 | 83 | 90 | 120 | 117 | 116 | 
| OPM % | 6% | 4% | 4% | 4% | 5% | 6% | 6% | 6% | 
| 3 | 5 | 5 | 5 | 60 | 24 | 19 | 42 | |
| Interest | 4 | 12 | 16 | 12 | 27 | 28 | 31 | 33 | 
| Depreciation | 20 | 32 | 39 | 36 | 53 | 56 | 59 | 60 | 
| Profit before tax | 49 | 7 | 33 | 41 | 70 | 61 | 46 | 65 | 
| Tax % | 23% | 44% | 38% | 27% | 27% | 38% | 15% | |
| 37 | 4 | 20 | 30 | 52 | 38 | 39 | 48 | |
| EPS in Rs | 3.60 | 0.41 | 2.06 | 2.68 | 5.61 | 3.85 | 3.64 | 4.05 | 
| Dividend Payout % | 28% | 0% | 0% | 37% | 36% | 52% | 27% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 11% | 
| 3 Years: | 3% | 
| TTM: | 9% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 57% | 
| 3 Years: | 16% | 
| TTM: | -37% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% | 
| 5 Years: | 11% | 
| 3 Years: | 22% | 
| 1 Year: | -30% | 
| Return on Equity | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 9% | 
| 3 Years: | 10% | 
| Last Year: | 10% | 
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 
| Reserves | 277 | 269 | 291 | 317 | 364 | 381 | 396 | 
| 47 | 123 | 147 | 116 | 282 | 276 | 350 | |
| 220 | 383 | 405 | 508 | 602 | 527 | 454 | |
| Total Liabilities | 564 | 796 | 862 | 961 | 1,268 | 1,205 | 1,219 | 
| 200 | 343 | 303 | 263 | 416 | 399 | 440 | |
| CWIP | 25 | 2 | 1 | 4 | 8 | 9 | 18 | 
| Investments | 7 | 21 | 26 | 118 | 104 | 171 | 129 | 
| 332 | 430 | 531 | 576 | 740 | 626 | 633 | |
| Total Assets | 564 | 796 | 862 | 961 | 1,268 | 1,205 | 1,219 | 
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 26 | 87 | 59 | 137 | 33 | 127 | 25 | |
| -15 | -139 | -14 | -99 | 37 | -77 | -9 | |
| -5 | 47 | -45 | -50 | -65 | -53 | -15 | |
| Net Cash Flow | 6 | -5 | -0 | -13 | 6 | -3 | 1 | 
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 49 | 79 | 66 | 74 | 80 | 54 | 53 | 
| Inventory Days | 30 | 36 | 17 | 26 | 50 | 58 | 58 | 
| Days Payable | 60 | 110 | 53 | 58 | 76 | 68 | 67 | 
| Cash Conversion Cycle | 18 | 6 | 30 | 41 | 55 | 44 | 44 | 
| Working Capital Days | 7 | 4 | 12 | 5 | 9 | 0 | 7 | 
| ROCE % | 5% | 11% | 11% | 9% | 14% | 12% | 
Documents
Announcements
- 
        
          Announcement under Regulation 30 (LODR)-Newspaper Publication
          
            16 Oct - Pl. find News paper publication regarding campaign by IEPFA-Saksham Niveshak -100 days drive published in Business Standard and Loksatta on October 16, 2025
 - 
        
          Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
          
            10 Oct - Certificate under Regulation 74 (5) of SEBI DP Regulations 2018 for the quarter ended September 30, 2025
 - 
        
          Closure of Trading Window
          
            26 Sep - Trading window closed Oct 1, 2025 until 48 hours after Q2 (Sept 30, 2025) results announcement.
 - Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 26 Aug
 - 
        
          Shareholder Meeting / Postal Ballot-Outcome of AGM
          
            25 Aug - 40th AGM on Aug 25, 2025; adopted FY2024-25 financials; final dividend Rs1/share on 100,000,000 shares.
 
Annual reports
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      Financial Year 2025
      from bse
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      Financial Year 2024
      from bse
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      Financial Year 2023
      from bse
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      Financial Year 2022
      from bse
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      Financial Year 2021
      from bse
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      Financial Year 2020
      from bse
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      Financial Year 2019
      from bse
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      Financial Year 2018
      from bse
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      Financial Year 2017
      from bse
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      Financial Year 2016
      from bse
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      Financial Year 2015
      from bse
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      Financial Year 2014
      from bse
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      Financial Year 2013
      from bse
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      Financial Year 2012
      from bse
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      Financial Year 2011
      from bse
 
Business Overview:[1]
MAIL, part of the Hero Group, is predominantly owned by the Satyanand Munjal family with a 75% equity stake. The company manufactures sheet metal, composites, molds, components, and assemblies for various industries, including automotive, renewable energy, aerospace, defense, space, railways, and other engineering sectors. Key automotive products include exhaust mufflers, fuel tanks, rims, and BIW parts for two and four-wheelers. In the renewable sector, MAIL produces windmill blades, molds, and other wind energy components.